Taiwan Increases Defense Budget Amid Tensions With China

​Taiwanese President Tsai Ing-wen's Cabinet agreed to an 8.3% increase in military spending, bringing the total to $13.11 billion.

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Taiwan has unveiled its largest defense spending boost in more than a decade amid growing tensions with China.

Taiwanese President Tsai Ing-wen's Cabinet agreed to an 8.3% increase in military spending, bringing the total to $13.11 billion. If Parliament approves the increase, which is likely, it will be the highest since records began in 2001, according to data from Taiwan's Directorate General of Budget, Accounting and Statistics.